By Soumen DattaNFT
SharkyFi is looking to solve some of the major issues concerning NFT illiquidity with their permissionless NFT lending platform
SharkyFi X MonkeVentures: NFT Liquidity
MonkeVentures has announced its partnership with SharkyFi to support the Non-Fungible Token (NFT) liquidity project in development by SharkiFi.
MonkeVentures made the announcement with a tweet on April 2 and was later joined by SharkyFi. Notably, lenders utilize the Sharky platform to provide liquidity for NFT collections on an order book. MonkeVentures, on the other hand, finds and invests in early-stage teams, innovative products, and web3’s rising stars.
“MonkeVentures is proud to announce that we are joining SharkyFi in bringing a fresh perspective in the NFT lending protocol space by offering a unique orderbook-based model that would help to attract liquidity from a diverse set of user base,” MonkeVentures expresses in a recent tweet.
SharkyFi is looking to solve some of the significant issues concerning NFT illiquidity. In other words, if you have an NFT and need funds for something, you cannot sell it easily. Another problem with NFTs is that they are usually part of a collection and have rarities that make them stand out. As a result, their respective values vary massively. However, if these owners need money right away, they can’t list it on the floor price; otherwise, they will lose money.
SharkyFi aims to solve these issues by providing a permissionless NFT lending platform that can help you acquire instant liquidity by leveraging your NFT assets. Learn more about how SharkyFi is looking to solve these issues here.
SharkyFi first gained attention when they participated in the Solana Miami hacker house with their permissionless NFT lending platform last December. According to the announcement from January 17, SharkyFi will also be working with Mango Markets to provide NFT collateralized loans.
What is SharkyFi
Sharky is a platform where lenders provide liquidity for orderbook collections. Holders of the NFT can immediately obtain a loan by pledging the NFT as collateral. SharkyFi created the platform to allow NFT users to access short-term liquidity without selling their valuable NFTs.
Learn more about SharkyFi:
What is MonkeVentures?
MonkeVentures is an independent investment DAO created by the MonkeDAO monkes. With a community-driven approach of rallying monkes to concretely value-add and support projects, they partner with leading projects in the Web3, NFT, GameFi, and DeFi ecosystems.
Learn more about MonkeVentures:
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Source : web3wire.news
